Some would also say that it isn’t prudent to spend millions of dollars on equipment for a battery factory that hasn’t had a feasibility study completed yet. Management has shown a tendency to put the cart before the horse (think RAP payments) and now make impulsive purchases ($5m of battery manufacturing equipment).
The company offered no real explanation for the cancellation of previous offtake agreements. The MOU with Rosatom... what’s happening with that? Can shareholders expect similar silence on the gigafactory consortiums if those MOUs are not converted into binding agreements? Will management just pretend as though they never existed? Who can say, I guess it’ll just depend on how FP feels on the day & whether he feels compelled to offer shareholders an explanation.
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